|
Report Date : |
25.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARCELORMITTAL DISTRIBUTION SOLUTIONS INDIA PRIVATE
LIMITED [w.e.f. 29.07.2009] |
|
|
|
|
Formerly Known
As : |
ARCELORMITTAL-STAINLESS INTERNATIONAL INDIA PRIVATE LIMITED [w.e.f.
27.05.2008] ARCELOR STAINLESS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A/403 and B/402, 4th Floor, Delphi, Hiranandani Business
Park, Powai, Mumbai – 400076, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.05.2003 |
|
|
|
|
Com. Reg. No.: |
11-140373 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.981
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH2003PTC140373 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA22249D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA5521B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of all Kind of Steel Products. |
|
|
|
|
No. of Employees
: |
80 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Arcelor Foundation Solutions BV,
Luxembourg.’ It is well established company having a satisfactory track record. Management of the company has failed to file its financial for the
year 2013. As per the financial 2012, the company has recoded tremendous growth
in its sales during 2012, it has incurred loss. However, the financial risk profile of the company is satisfactory. Trade relations are reported as decent. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International Finance
Corporation expects to come out with its rupee linked bonds issue before the
end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs
41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched
in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Darpan Berry |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-42489504 |
|
Date : |
21.11.2013 |
LOCATIONS
|
Registered Office : |
A/403 and B/402, 4th Floor, Delphi, Hiranandani Business
Park, Powai, Mumbai – 400076, Maharashtra, India |
|
Tel. No.: |
91-22-42489504 |
|
Fax No.: |
91-22-67029546 |
|
E-Mail : |
anandrai.prakash@arcelormittal.com
shravan.mulky@arcelormittal.com
bhaskar.pendse@arcelormittal.com |
|
Website: |
|
|
Area : |
6000 Sq. ft |
|
Location: |
Owned |
|
|
|
|
Sales Office : |
Located at: · Chennai · Kolkata · Ahmedabad · Hyderabad ·
Faridabad |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Vijaykumar Brahma Bhatnagar |
|
Designation : |
Director |
|
Address : |
Flat No.22, Tower P1, ATS Green Village, Sector-93A, Noida Exp. Way,
Noida-201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
21.08.1947 |
|
Date of Appointment : |
27.08.2009 |
|
DIN No.: |
02200026 |
|
|
|
|
Name : |
Mr. Manjunath Gopal Raghavelu |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. 2 B, 2nd Floor, Lotia Mansion, 453, 15th
Road, Opposite Khar Gymkhana Ground, Khar (West), Mumbai-400052, Maharashtra,
India |
|
Date of Birth/Age : |
09.06.1976 |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
02491745 |
|
|
|
|
Name : |
Mr. Raj Kumar Saxena |
|
Designation : |
Director |
|
Address : |
Flat No. 141, Nehru Apartments, Kalkaji, New Delhi-110019, India |
|
Date of Birth/Age : |
09.05.1950 |
|
Date of Appointment : |
27.09.2011 |
|
DIN No.: |
01146693 |
KEY EXECUTIVES
|
Name : |
Mr. Darpan Berry |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Manjunath Raghavelu Nominee of Arcelor Foundation Solutions BV,
Netherlands |
1 |
|
Arcelor Foundation Solutions BV, Netherlands |
298138 |
|
TOTAL
|
298139 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of all Kind of Steel Products. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Imports : |
|
||||||||||
|
Products : |
Steel Products |
||||||||||
|
Countries : |
·
China ·
Dubai ·
Japan ·
Europe |
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Cash and Credit |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
·
End Users |
|
|
|
|
No. of Employees : |
80 (Approximately) |
|
|
|
|
Bankers : |
·
HDFC Bank Limited, Fort Branch, Mumbai,
Maharashtra, India Tel.
No.: 91-22-61606161 ·
Bank of America, Nariman Point, Mumbai,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Hinesh R. Doshi and Company Chartered Accountants |
|
Address : |
102, First Floor, A Wing, Rajgir Court, 6 Kohinoor Road, Dadar (East),
Mumbai-400014, Maharashtra, India |
|
PAN No.: |
AACFH3118C |
|
|
|
|
Holding Company : |
·
ArcelorMittal Stainless Internationa S A ·
Arcelor Foundation Solutions B V |
|
|
|
|
Fellow Subsidiaries : |
·
ArcelorMittal Projects Netherlands ·
ArcelorMittal Commercial R.P.S. Sarl ·
ArcelorMittal International ·
ArcelorMittal Flat Carbon Europe SA ·
ArcelorMittal France ·
Dubai Steel Trading Company LLC ·
ArcelorMittal International Luxemburg |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
298139 |
Equity Shares |
Rs.10/- each |
Rs. 2.981
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.981 |
2.724 |
|
(b) Reserves & Surplus |
|
173.174 |
146.728 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
176.155 |
149.452 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
147.711 |
2.100 |
|
(d) long-term
provisions |
|
0.790 |
0.547 |
|
Total Non-current
Liabilities (3) |
|
148.501 |
2.647 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
231.710 |
0.000 |
|
(b)
Trade payables |
|
6950.023 |
2193.320 |
|
(c) Other
current liabilities |
|
202.665 |
65.378 |
|
(d) Short-term
provisions |
|
0.983 |
44.679 |
|
Total Current
Liabilities (4) |
|
7385.381 |
2303.377 |
|
|
|
|
|
|
TOTAL |
|
7710.037 |
2455.476 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
50.464 |
12.687 |
|
(ii)
Intangible Assets |
|
0.400 |
0.326 |
|
(iii)
Capital work-in-progress |
|
1.428 |
8.553 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
82.448 |
0.335 |
|
(d) Long-term Loan and Advances |
|
110.555 |
7.223 |
|
(e) Other
Non-current assets |
|
3.070 |
0.100 |
|
Total Non-Current
Assets |
|
248.365 |
29.224 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
4251.884 |
1289.017 |
|
(c)
Trade receivables |
|
1110.320 |
931.403 |
|
(d) Cash
and cash equivalents |
|
900.088 |
58.875 |
|
(e) Short-term
loans and advances |
|
1197.599 |
146.943 |
|
(f)
Other current assets |
|
1.781 |
0.014 |
|
Total
Current Assets |
|
7461.672 |
2426.252 |
|
|
|
|
|
|
TOTAL |
|
7710.037 |
2455.476 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.724 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
29.462 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
32.186 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
32.186 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
4.371 |
|
|
Capital work-in-progress |
|
|
1.200 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.193 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
55.819 |
|
|
Sundry Debtors |
|
|
0.041 |
|
|
Cash & Bank Balances |
|
|
2.308 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
53.719 |
|
Total
Current Assets |
|
|
111.887 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
53.769 |
|
|
Other Current Liabilities |
|
|
3.783 |
|
|
Provisions |
|
|
27.913 |
|
Total
Current Liabilities |
|
|
85.465 |
|
|
Net Current Assets |
|
|
26.422 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
32.186 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8104.090 |
2968.730 |
68.310 |
|
|
|
Commission |
14.460 |
4.820 |
14.380 |
|
|
|
Other Income |
63.710 |
94.560 |
4.650 |
|
|
|
TOTAL |
8182.260 |
3068.110 |
87.340 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
7749.200 |
2836.820 |
62.060 |
|
|
|
Employee Remuneration and Benefits |
58.340 |
18.080 |
7.670 |
|
|
|
Other Expenses |
441.430 |
31.580 |
14.920 |
|
|
|
TOTAL |
8248.970 |
2886.480 |
84.650 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(66.710) |
181.630 |
2.690 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
182.920 |
4.410 |
0.160 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(249.630) |
177.220 |
2.530 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
5.790 |
1.390 |
0.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(255.410) |
175.830 |
1.820 |
|
|
|
|
|
|
|
|
|
|
TAX |
(82.110) |
58.560 |
0.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(173.300) |
117.270 |
1.210 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
143.770 |
26.500 |
25.290 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(29.530) |
143.770 |
26.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.585 |
1.149 |
0.000 |
|
|
|
Commission Earnings |
14.464 |
4.823 |
14.381 |
|
|
TOTAL EARNINGS |
18.049 |
5.972 |
14.381 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
6759.474 |
2223.575 |
98.371 |
|
|
TOTAL IMPORTS |
6759.474 |
2223.575 |
98.371 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(581.27) |
430.50 |
4.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(2.12)
|
3.82 |
1.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.15)
|
5.92 |
2.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.35)
|
7.19 |
1.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.45)
|
1.18 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.32
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01
|
1.05 |
1.31 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Loans repayable
on demand |
|
|
|
From Bank |
|
|
|
Buyers credit facility for import payments |
231.710 |
0.000 |
|
|
|
|
|
TOTAL |
231.710 |
0.000 |
NOTE
The Registered Office of the company has been shifted from 205, Sentinel,
Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India to the present address
w.e.f. 16.05.2012
Note: No charges
exits
CORPORATE
INFORMATION
ArcelorMittal
Distribution Solutions India Private Limited formerly known as
ArcelorMittal-Stainless International India Private Limited is a Private
Limited Company incorporated on 09 May 2003. Its main object is to carry on the
business the as Distributors, Dealers, Stockists, Agents, Indentors, Traders,
Brokers, Factors, Exporters, Importers, Wholesalers, Bulk Importers with
expanded warehouse sales related Steel and Metal products including Stainless
Steel of various grades and sizes.
BUSINESS
OPERATIONS
During the year
the Company’s turnover has increased many fold mainly due to substantial increase
in trading activities of all kind of steel products. The company has opened
stock yards at various locations in India including at Bangalore, Kolkata and
Jaipur.
The Board of Directors is hopeful of maintaining the upward trend in
turnover in the coming year.
HOLDING COMPANY
The company continues to be the wholly owned subsidiary of Arcelor
Foundation Solutions BV, Netherlands.
FIXED ASSETS
·
Software
·
Computer
·
Motor Car
·
Office Equipments
·
Furniture
·
Leasehold Improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.02 |
|
|
1 |
Rs. 102.04 |
|
Euro |
1 |
Rs. 84.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not cause
fatal effect. Satisfactory capability for payment of interest and principal
sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial
difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New
Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.